Other transfer by fiduciary · as in force on May 31, 2026
§ 7-6.6 Other transfer by fiduciary
(a) Subject to paragraph (c), a personal representative or trustee may make an irrevocable transfer to another adult or trust company as custodian for the benefit of a minor pursuant to 7-6.9, in the absence of a will or under a will or trust that does not contain an authorization to do so.
(b) Subject to paragraph (c), a guardian may make an irrevocable transfer to another adult or trust company as custodian for the benefit of the minor pursuant to 7-6.9.
(c) A transfer under paragraph (a) or (b) may be made only if (i) the personal representative, trustee, or guardian considers the transfer to be in the best interest of the minor, (ii) the transfer is not prohibited by or inconsistent with provisions of the applicable will, trust agreement, or other governing instrument, and (iii) if the personal representative is acting in the absence of a will, the transfer is authorized by the court if it exceeds fifty thousand dollars in value.
A fiduciary may make a custodial transfer for a minor even without authorization in a will or trust, if three conditions are met.
Marked in the text: penalties, time limits, sums of money. Editorial emphasis added by this edition; it does not appear in the statute as enacted.
This provision appears in Volume 1 — The Surrogate's Court in Plain English; Volume 3 — The Surrogate's Court: Court Rules & the EPTL; Volume 5 — Your Career: Surrogate's Court in Plain English.